Zenas BioPharma (NASDAQ:ZBIO) Issues Earnings Results

Zenas BioPharma (NASDAQ:ZBIO) announced its earnings results on Thursday. The company reported ($1.77) earnings per share for the quarter, missing the consensus estimate of ($1.12) by ($0.65), FiscalAI reports. The firm had revenue of $1.00 million during the quarter, compared to the consensus estimate of $15.00 million.

Zenas BioPharma Stock Performance

ZBIO stock traded down $3.45 on Thursday, reaching $27.84. The company’s stock had a trading volume of 421,176 shares, compared to its average volume of 836,273. Zenas BioPharma has a 52 week low of $13.50 and a 52 week high of $44.60. The company has a debt-to-equity ratio of 1.04, a current ratio of 11.94 and a quick ratio of 11.94. The company has a market capitalization of $1.76 billion, a P/E ratio of -3.31 and a beta of -1.03. The firm has a fifty day moving average of $26.49 and a two-hundred day moving average of $23.27.

Insider Activity at Zenas BioPharma

In other Zenas BioPharma news, CEO Leon O. Moulder, Jr. acquired 60,000 shares of the stock in a transaction dated Monday, May 18th. The shares were bought at an average price of $16.88 per share, with a total value of $1,012,800.00. Following the purchase, the chief executive officer directly owned 96,928 shares of the company’s stock, valued at approximately $1,636,144.64. This trade represents a 162.48% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 22.00% of the company’s stock.

Institutional Investors Weigh In On Zenas BioPharma

Hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in Zenas BioPharma by 4.6% during the 2nd quarter. Geode Capital Management LLC now owns 373,617 shares of the company’s stock worth $3,621,000 after buying an additional 16,461 shares during the period. Rhumbline Advisers raised its position in Zenas BioPharma by 71.3% during the second quarter. Rhumbline Advisers now owns 19,721 shares of the company’s stock valued at $191,000 after buying an additional 8,207 shares during the period. Sei Investments Co. acquired a new stake in Zenas BioPharma during the 2nd quarter worth about $118,000. Bank of America Corp DE lifted its position in shares of Zenas BioPharma by 32.3% in the second quarter. Bank of America Corp DE now owns 13,991 shares of the company’s stock worth $136,000 after purchasing an additional 3,412 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in Zenas BioPharma by 17.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,162,758 shares of the company’s stock valued at $25,813,000 after buying an additional 170,546 shares during the period.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZBIO. Zacks Research upgraded Zenas BioPharma from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Morgan Stanley increased their price objective on shares of Zenas BioPharma from $21.00 to $22.00 and gave the stock an “equal weight” rating in a research note on Thursday, May 14th. HC Wainwright reissued a “buy” rating on shares of Zenas BioPharma in a report on Wednesday, June 3rd. Citigroup restated a “buy” rating on shares of Zenas BioPharma in a research note on Wednesday, June 3rd. Finally, Weiss Ratings lowered Zenas BioPharma from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, July 9th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Zenas BioPharma presently has an average rating of “Moderate Buy” and an average target price of $44.29.

About Zenas BioPharma

Zenas BioPharma, Inc is a clinical-stage biotechnology company focused on the discovery and development of novel therapies in oncology and infectious diseases. The company’s proprietary platform integrates structure-guided design, computational modeling and high-throughput screening to address challenging protein-protein interactions. Zenas BioPharma is advancing multiple preclinical and clinical-stage candidates aimed at providing new treatment options where current modalities may be limited by efficacy or safety concerns.

Founded in 2021 and headquartered in Cambridge, Massachusetts, Zenas BioPharma was built to streamline the drug discovery process from target identification through to IND-enabling studies.